India Whisky Market Outlook, 2027-28

India Whisky Market Outlook, 2027-28

Whisky is an alcoholic blended drink that is made from fermented grain smash or beer distillation. Various crops, like rye, corn, barley, and wheat, several grains are used. Whisky is usually aged in wooden casks, traditionally made of burnt white oak. With several groups and styles, whisky is a highly regulated spirit nationwide. Whisky is undoubtedly one of India's leading alcoholic drinks. Whisky is appreciated as a distilled elixir, neat, on the rocks, in a mixer, or even with a grotesque can of Coca-Cola. Yet India is not only a whisky lover but also one of the world's leading whisky manufacturers and distributors. As mentioned by Forbes, till 2021, Officer's Choice, an affordable Indian whisky, was the world's best-selling whisky. Even so, the iconic mantle of Officer's Choice has been carried over by another Indian whisky label this year.

According to the research report, India Whisky Market Outlook, 2027-28 published by Bonafide Research, states that the consumption of whisky is to reach 289.49 million cases by 2027-28, which would generate revenue of over INR 287000 crores. India consumed 237.22 million cases of whisky in 2021. North India and East India together constitute roughly 27% of the consumption of whisky in India. Prestige whisky has a major market share as it is the cheapest whisky on the market. But with consumers' preference for quality whisky is driving the demand for premium whisky at a CAGR of 15.66% over the forecast period. The super-premium range of whisky is highly priced and in low demand as it is confined to only the upper class people of the country. The average price of super-premium whisky in 2021-22 was INR 1750. Malt whisky, made from a fermented mash consisting primarily of malted barley and made exclusively at a single distillery, is the most consumed whisky in India. Single malt whisky is expected to grow rapidly at a CAGR of 22.92% over the forecast period as people demand more flavours that are available in this type of liquor. Single malt whisky has grown a reputation for being a higher quality spirit than blends. Scotch whisky is the second most demanded whisky type in India with a 19.88% market share in 2021-22 and is expected to be in demand over the forecast period. The urban population in the age group of 35yrs to 50yrs consumes more whisky than the rural population and generally prefers to buy a full bottle of 750 ML. Liquor is preferably bought from a retail shop in India rather than other distribution channels.
Whisky has many advantages when consumed in moderation. Researchers suggest that whisky aids in weight loss by decreasing the urge to consume sucrose and is a low-calorie beverage. Whisky contains high concentrations of ellagic acid, a potent antioxidant that helps to neutralise cancer-causing reactive oxygen species. Whisky is a winter drink with different therapeutic potential. It serves as a pain reliever by dilating the blood vessels. After a long day of work, a drink of whisky helps one to relax as the influence of alcohol will relieve stress. It is suggested that drinking whisky after a heavy meal enhances digestion. If consumed in reasonable quantities for an extended period of time, it will help the body balance glucose, which may decrease the risk of developing diabetes.

The innovation in the category is helping Indian whisky carve out its own identity. To date, Indian whisky exports have tended to follow the path of the large Indian expat communities, particularly in the Gulf. They have also attracted a following in some African markets, serving as entry-level brands for those consumers wanting to upgrade from the illicit spirits market. The next generation of high-end Indian-made malts is already showing that they are of a sufficient standard to capture an audience in Western markets. Currently, the Indian Whisky category is strong and its innovation is bringing new consumers into the category and is building its profile among whisky purists, both internally and externally. Whether this trend will continue with the ever-present threat of federal or state disruption remains to be seen; the category is prone to taking one step forward and two steps back following government regulation or tax changes.

In a survey of the 25 Greatest Whisky Brands in the World, Forbes reports that 13 Indian whisky labels have been listed as the global best-selling whiskies. McDowell's and some other Indian classics ranked highest in terms of popularity; Blender's Pride, Imperial Blue, and Royal Challenge have scooped top positions as well. Significantly, the publication ratings are focused purely on revenue by the quantity and not on the individual brand's importance.

Some of the top whisky brands in India are; Officer’s Choice, McDowell’s No.1, Imperial Blue, Royal Stag, Old Tavern, Original Choice, Hayward’s Fine, Bagpiper, Director’s Special, Blenders Pride.

The on-trade was completely closed, as were most liquor shops in every state. Places of work shut down, so many young office workers leave the urban centers. With the on-trade stifled, retail purchases and consumption of beverage alcohol at home have become the norm in most mainstream categories. In India, however, women and younger consumers still feel uncomfortable drinking in front of more conservative parents and family members at home. Limitations on space and refrigeration flavoured spirits over beer, RTDs, and especially for young urban women, wine, all of which are usually consumed cold.

Considered in the Report:
• Geography: India
• Base Year: 2021-22
• Estimated Year: 2022-23
• Forecast Year: 2027-28

India by Region
• South India
• West India
• North India
• East India

By Segments covered in the report
• Prestige Whisky
• Premium Whisky
• Super Premium whisky

By Product type covered in the report
• Malt Whisky
• Grain Whisky

By Combined type covered in the report
• Blended
• Scotch Whisky
• Single Malt
• Others

By Demographic covered in the report
• Rural
• Urban

By Age group covered in the report
• 51 and Above
• 35 to 50 age
• 18 to 34 age
By Packing Size covered in the report
• Full Bottle (750 ml)
• Half Bottle (375 ml)
• Quarter (180 ml)
• Others (Below 100ml & Above 750 ml)

By Distribution Channel covered in the report
• Retail Channel
• Institutional Channel
• CSD (Canteen Stores Department)

The Approach of the Report:
Bonafide Research performed primary as well as secondary research for this study. Initially, a list of manufacturers and suppliers operating in the Sun Care Market of India were sourced through secondary sources. With the identified companies and consumers, primary research was carried out which included conducting online surveys, competitor analysis and exhaustive personal interviews - both face to face as well as telephonic basis, to extract maximum information from participants like industry executives/ distributors or consumers. Primary research gave us an idea of company revenues, export, pricing, geographical presence, channel partner model, USP etc. and also helped us to identify various small players who otherwise have less presence on the web.
Bonafide Research seeks secondary data from third-party sources such as published articles, company websites, magazine articles, associations, trade journals, annual reports, government official websites and other paid database sources. In addition, data is also mined from a host of reports in our repository, as well as a number of paid databases of Indian government. Using both primary and secondary information, Bonafide Research calculated the market size through a bottom-up approach, where manufacturers’ value sales data for different types of sun care products were recorded and subsequently forecasted for the future years.

Intended Audience
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to alcohol beverages industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. India Macro Economic Indicators
2.8. Demographics Insight
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Indian Alcoholic Beverages Market Outlook
4.1. By Value
4.2. By Volume
4.3. Market Share
4.3.1. By Region
4.3.2. By Demographics
4.3.3. By Sales Channel
5. India Whisky Market Outlook
5.1. Market Size by Value
5.2. Market Share
5.2.1. By region
5.2.2. By Demographics
5.2.3. By Distribution Channel
5.2.4. By Product Type
5.2.5. By Price Segment
5.2.6. By Combined type
5.2.7. By Age Group
5.2.8. By Packaging Size
5.2.9. By Company
5.3. Product Price Variant
7. Trade Dynamics
7.1. Import
7.2. Export
8. Market Dynamics
8.1. Drivers
8.2. Challenges
9. Market Trends and Developments
10. Competitive Landscape
10.1. Porter's Five Forces
10.2. Company Profile
10.2.1. Diego India Company Snapshot Company Overview Financial Highlights Geographic Insights Business Segment & Performance Product Portfolio Key Executives Strategic Moves & Developments
10.2.2. Pernod Ricard India Private Limited
10.2.3. Allied Blenders and Distillers Private Limited
10.2.4. John Distilleries Private Limited
10.2.5. Radico Khaitan Limited
10.2.6. Jagatjit Industries Limited
10.2.7. Tilak Nagar Industries Limited
11. Strategic Recommendations
12. Disclaimer
List of Figures
Figure 1: India Population 2017-2021(In Crore)
Figure 2: India Population Age Structure (EST. 2019)
Figure 3: India Urban VS Rural (Crore)
Figure 4: India Alcoholic Beverages Market Size by Value 2016-17 to 2027-28F (in INR Crore)
Figure 5: India Alcoholic Beverages Market Size by Volume 2016-17 to 2027-28F (in Billion Liters)
Figure 6: India Alcoholic Beverages Market Share by Value, By Region, 2016-17, 2021-22 & 2027-28F
Figure 7: India Alcoholic Beverages Market Share by Value, By Demographics, 2016-17, 2021-22 & 2027-28F
Figure 8: India Alcoholic Beverages Market Share by Value, By Sales Channel, 2016-17, 2021-22 & 2027-28
Figure 9: Porter's Five Forces of India Whisky Market
List of Table
Table 1: India Whisky Market Size by Value (in INR Crore) (2016-17 to 2027-28F)
Table 2: India Whisky Market Share by Value by Region (2016-17, 2021-22 & 2027-28))
Table 3: India Whisky Market Share by Value by Demographics (2016-17, 2021-22 & 2027-28)
Table 4: India Whisky Market Share by Value by Distribution Channel (2016-17, 2021-22 & 2027-28)
Table 5: India Whisky Market Share by Value by Product Type (2016-17, 2021-22 & 2027-28)
Table 6: India Whisky Market Share by Value by Price Segment (2016-17, 2021-22 & 2027-28)
Table 7: India Whisky Market Share Age Group (2016-17, 2021-22 & 2027-28)
Table 8: India Whisky Market Share by Packaging Size (2016-17, 2021-22 & 2027-28)
Table 9: India Whisky Market Share by Company (2021)
Table 10: HS Code for Whisky Products in India 2021
Table 11: Import Duty Structure for HS Code XXXX in India 2021
Table 12: Import of HS Code XXXX in India - Value & Volume 2016-17 to 2021-22
Table 13: Import of HS Code XXXX in India - By Country by Value & Volume Share 2021-22
Table 14: Export of HS Code XXXX in India - Value & Volume 2016-17 to 2021-22
Table 15: Export of HS Code XXXX in India - By Country by Value & Volume Share 2021-22

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